Over the firewall and down the rabbit hole....
I have signed up to get a site meter for my blog, so I can see how few hits I get -- just in time. As of this week, I will get even fewer, because friends in Tokyo who work at one particular large financial services company have told me that they can`t access my URL from work anymore. There go half my readers!
So, in order to try to get my URL added to their local "white list" of sites that get past their firewall, I will write today`s entry on Japanese financial markets.
(Ahem.) Wow, I can`t believe how much the Nikkei has risen since I stopped paying daily attention to it. It`s above 15,000 now. How did that happen? Damn, this makes me want to call a few traders. I don`t miss writing market reports, but I do miss talking on the phone to traders. Traders are very interesting folks -- especially hedge fund traders. They always paid for my drinks.
The weaker yen must be giving exporter shares a lift. I know without checking that the yen is relatively weak -- the dollar is now trading around Y120. I know this, of course, because Hub is paid in yen. Go, yen, go! You can still get back to Y100 if you try -- especially if this nice little stock market rally continues in the first few months of `06, ahead of the Japanese fiscal year end in March, as everyone always predicts. Unless, of course, it`s another "bear market rally," and then we`ll all just play more ping-pong.
Has the BOJ changed its quantatative easing policy? Nope. When is the next Tankan survey of business sentiment due out? Oh God -- tomorrow! That should be interesting -- not.
And the yield on the benchmark 10-year JGB is.....2.3%??? Is that right??? No, whew, I looked at the wrong chart -- it`s 1.58%. For a minute, I thought something drastic actually happened in the most illiquid sovereign bond market in the developed world.
Is that enough? I hope so. That`s all I`m going to say, since I`m not getting paid for it anymore.
So, in order to try to get my URL added to their local "white list" of sites that get past their firewall, I will write today`s entry on Japanese financial markets.
(Ahem.) Wow, I can`t believe how much the Nikkei has risen since I stopped paying daily attention to it. It`s above 15,000 now. How did that happen? Damn, this makes me want to call a few traders. I don`t miss writing market reports, but I do miss talking on the phone to traders. Traders are very interesting folks -- especially hedge fund traders. They always paid for my drinks.
The weaker yen must be giving exporter shares a lift. I know without checking that the yen is relatively weak -- the dollar is now trading around Y120. I know this, of course, because Hub is paid in yen. Go, yen, go! You can still get back to Y100 if you try -- especially if this nice little stock market rally continues in the first few months of `06, ahead of the Japanese fiscal year end in March, as everyone always predicts. Unless, of course, it`s another "bear market rally," and then we`ll all just play more ping-pong.
Has the BOJ changed its quantatative easing policy? Nope. When is the next Tankan survey of business sentiment due out? Oh God -- tomorrow! That should be interesting -- not.
And the yield on the benchmark 10-year JGB is.....2.3%??? Is that right??? No, whew, I looked at the wrong chart -- it`s 1.58%. For a minute, I thought something drastic actually happened in the most illiquid sovereign bond market in the developed world.
Is that enough? I hope so. That`s all I`m going to say, since I`m not getting paid for it anymore.
posted by L. at 3:07 PM
4 Comments:
did you read about the big snaffo on the boards where the TSC did a selling error on the board costing 40 BILLION yen!!!
freaky!!!
Um, hello? Can we have Korean kids and laundry back next time?
Just kidding. I love financial posts about the yen!!!
er...fascinating.
You crack me up, L. I just finished reading the stinky kimchee post and now this? Too much! I love it.
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